He was a police sergeant and she was a kindergarten teacher. They moved to St. Ignace, Mich. in 1972, where they joined St. Ignatius Loyola Parish. As part of their estate plan, the late Frederick “Jiggs” and Margaret “Maggie” Jackson planned several gifts to benefit their favorite charitable causes in St. Ignace. One of those causes was St. Ignatius Loyola Parish.
In 2010, the parish received a bequest in the amount of $307,000 to create an endowment to benefit religious education at the parish. No one at the parish anticipated the bequest, let alone the large sum. The Jacksons’ generosity will impact Catholic education at that parish forever.
According to the couple’s wishes, an endowment fund was established, which has been named for the Jacksons. Last year, the endowment earnings allowed the parish to spend $16,500 to help fund religious education in the parish. Each year, the parish can anticipate having funding available to hold special programs, secure resources and strengthen the parishioners’ faith formation.
Endowments, like the Jackson Fund, leave a lasting impact.
This option offers reduced management expenses, provides a wide range of investment options and follows the socially responsible investment policies that conform to Catholic teaching. The assets are invested and managed in perpetuity, and spending is planned to ensure the long-term viability of the endowment.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.